Hi4: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Hi4
Largest movements
- Cash -€4,044
down €4,044 (-57.8%), from €6,992 to €2,948
mainly Tax, wage and social debts (-€6,782) and Trade debts (-€4,074)
- Deferred charges and accrued income -€2,523
down €2,523 (-23.0%), from €10,950 to €8,428
- Tax, wage and social debts -€6,782
down €6,782 (-44.4%), from €15,278 to €8,496
of which Taxes: -€8,782
- Current portion of long-term debt +€6,709
new in 2026: €6,709
- Trade debts -€4,074
down €4,074 (-65.8%), from €6,195 to €2,121
- Gross operating margin -€26,524
down €26,524, from €21,215 to -€5,310
- Taxes -€7,705
down €7,705 (-89.2%), from €8,642 to €937
- Financial income -€657
down €657 (-7.5%), from €8,807 to €8,150
- Other operating charges -€513
down €513 (-22.8%), from €2,257 to €1,743
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,245 | €179,124 | -€7,121 | -3.8% |
| Fixed assets | 21/28 | €4,865 | €3,697 | -€1,168 | -24.0% |
| Tangible fixed assets | 22/27 | €4,835 | €3,667 | -€1,168 | -24.2% |
| Plant, machinery and equipment | 23 | €58 | €46 | -€12 | -20.9% |
| Furniture and vehicles | 24 | €1,501 | €1,100 | -€401 | -26.7% |
| Other tangible fixed assets | 26 | €3,276 | €2,521 | -€755 | -23.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €181,380 | €175,427 | -€5,953 | -3.3% |
| Amounts receivable after more than one year | 29 | €19,900 | €19,900 | = | 0.0% |
| Other amounts receivable | 291 | €19,900 | €19,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €143,538 | €144,152 | +€614 | +0.4% |
| Trade receivables | 40 | €11,275 | €1,832 | -€9,443 | -83.7% |
| Other amounts receivable | 41 | €132,262 | €142,319 | +€10,057 | +7.6% |
| Cash at bank and in hand | 54/58 | €6,992 | €2,948 | -€4,044 | -57.8% |
| Deferred charges and accrued income | 490/1 | €10,950 | €8,428 | -€2,523 | -23.0% |
| Total equity and liabilities | 10/49 | €186,245 | €179,124 | -€7,121 | -3.8% |
| Equity | 10/15 | €163,580 | €161,798 | -€1,782 | -1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €151,180 | €151,180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €149,280 | €149,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,782 | -€1,782 | |
| Amounts payable | 17/49 | €22,665 | €17,326 | -€5,339 | -23.6% |
| Amounts payable within one year | 42/48 | €22,665 | €17,326 | -€5,339 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,709 | +€6,709 | |
| Trade debts | 44 | €6,195 | €2,121 | -€4,074 | -65.8% |
| Suppliers | 440/4 | €6,195 | €2,121 | -€4,074 | -65.8% |
| Taxes, remuneration and social security | 45 | €15,278 | €8,496 | -€6,782 | -44.4% |
| Taxes | 450/3 | €15,278 | €6,496 | -€8,782 | -57.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €1,193 | - | -€1,193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,176 | €1,168 | -€8 | -0.7% |
| Other operating charges | 640/8 | €2,257 | €1,743 | -€513 | -22.8% |
| Gross operating margin | 9900 | €21,215 | -€5,310 | -€26,524 | |
| Operating profit (loss) | 9901 | €17,782 | -€8,221 | -€26,003 | |
| Financial income | 75/76B | €8,807 | €8,150 | -€657 | -7.5% |
| Recurring financial income | 75 | €8,807 | €8,150 | -€657 | -7.5% |
| Financial charges | 65/66B | €663 | €773 | +€110 | +16.6% |
| Recurring financial charges | 65 | €663 | €773 | +€110 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €25,926 | -€844 | -€26,770 | |
| Income taxes | 67/77 | €8,642 | €937 | -€7,705 | -89.2% |
| Profit (loss) for the period | 9904 | €17,283 | -€1,782 | -€19,065 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,283 | -€1,782 | -€19,065 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.